PNC Financial Services Group Inc. increased its holdings in shares of Peapack-Gladstone Financial Co. (NASDAQ:PGC – Get Rating) by 2.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 33,794 shares of the financial services provider’s stock after purchasing an additional 678 shares during the period. PNC Financial Services Group Inc. owned approximately 0.19% of Peapack-Gladstone Financial worth $1,258,000 at the end of the most recent quarter.
Several other large investors have also added to or reduced their stakes in the business. Prudential Financial Inc. boosted its holdings in Peapack-Gladstone Financial by 10.1% in the third quarter. Prudential Financial Inc. now owns 87,320 shares of the financial services provider’s stock worth $2,939,000 after acquiring an additional 7,990 shares in the last quarter. Boston Partners boosted its holdings in Peapack-Gladstone Financial by 359.7% in the fourth quarter. Boston Partners now owns 711,148 shares of the financial services provider’s stock worth $26,433,000 after acquiring an additional 556,465 shares in the last quarter. Gamco Investors INC. ET AL boosted its holdings in Peapack-Gladstone Financial by 2.9% in the third quarter. Gamco Investors INC. ET AL now owns 74,150 shares of the financial services provider’s stock worth $2,495,000 after acquiring an additional 2,100 shares in the last quarter. Summit Global Investments boosted its holdings in Peapack-Gladstone Financial by 2.6% in the third quarter. Summit Global Investments now owns 16,525 shares of the financial services provider’s stock worth $556,000 after acquiring an additional 425 shares in the last quarter. Finally, Federated Hermes Inc. boosted its holdings in Peapack-Gladstone Financial by 0.9% in the third quarter. Federated Hermes Inc. now owns 65,017 shares of the financial services provider’s stock worth $2,188,000 after acquiring an additional 592 shares in the last quarter. Institutional investors and hedge funds own 72.99% of the company’s stock.
Peapack-Gladstone Financial Stock Up 0.7 %
PGC stock opened at $27.43 on Tuesday. Peapack-Gladstone Financial Co. has a twelve month low of $22.88 and a twelve month high of $42.19. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.25. The stock’s 50 day moving average is $27.47 and its 200-day moving average is $33.89. The firm has a market capitalization of $494.29 million, a PE ratio of 6.38 and a beta of 1.03.
Peapack-Gladstone Financial Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, May 22nd. Investors of record on Monday, May 8th were given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.73%. The ex-dividend date of this dividend was Friday, May 5th. Peapack-Gladstone Financial’s payout ratio is 4.65%.
Insider Activity at Peapack-Gladstone Financial
In other Peapack-Gladstone Financial news, Director Carmen M. Bowser purchased 1,000 shares of the firm’s stock in a transaction that occurred on Friday, March 24th. The stock was bought at an average cost of $28.46 per share, with a total value of $28,460.00. Following the completion of the transaction, the director now owns 3,168 shares of the company’s stock, valued at approximately $90,161.28. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Peapack-Gladstone Financial news, Director Carmen M. Bowser purchased 1,000 shares of the firm’s stock in a transaction that occurred on Friday, March 24th. The stock was bought at an average cost of $28.46 per share, with a total value of $28,460.00. Following the completion of the transaction, the director now owns 3,168 shares of the company’s stock, valued at approximately $90,161.28. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Robert A. Plante purchased 1,500 shares of the firm’s stock in a transaction that occurred on Friday, April 28th. The shares were acquired at an average cost of $26.60 per share, with a total value of $39,900.00. Following the completion of the transaction, the chief operating officer now directly owns 3,932 shares of the company’s stock, valued at approximately $104,591.20. The disclosure for this purchase can be found here. Over the last three months, insiders acquired 6,780 shares of company stock valued at $192,830. 7.63% of the stock is owned by insiders.
Analyst Ratings Changes
Several research analysts have issued reports on PGC shares. Keefe, Bruyette & Woods cut their price target on Peapack-Gladstone Financial from $48.00 to $43.00 and set an “outperform” rating on the stock in a report on Thursday, April 6th. StockNews.com started coverage on Peapack-Gladstone Financial in a report on Thursday, May 18th. They issued a “hold” rating on the stock.
About Peapack-Gladstone Financial
(Get Rating)
Peapack-Gladstone Financial Corp. is a bank holding company, which engages in the provision of private banking services to businesses, non-profits, and consumers. It operates through the Banking and Peapack Private segments. The Banking segment is involved in the delivery of loan and deposit products to customers.
Further Reading
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